At least nine Wall Street analysts lowered their price targets on Symantec’s stock after the company also said the outcome of the investigation may affect its financial health. The broker also noted it was “shocking” that Symantec had scrapped the question-and-answer portion of its conference call with analysts following its quarterly earnings report on Thursday. On Thursday, Symantec said revenue from the enterprise security unit that accounts for most of the Mountain View, California firm’s sales dipped 7 percent. Morgan Stanley analyst Keith Weiss said the weak forecast was benign compared with the news of the investigation. “While we’ve seen companies put matters of outstanding, transactions, litigation or investigation off-limits for Q&A, we’ve never seen a company cut off any Q&A on any topic from analysts or investors,” Weiss said.

Source: bd News24 May 11, 2018 14:15 UTC